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Dec 31, 2023
ManpowerGroup Q4 2023 Earnings Report
ManpowerGroup reported a net loss for Q4 2023 due to restructuring costs and non-cash charges, while facing a challenging environment in North America and Europe but seeing solid demand in LATAM and APME.
Key Takeaways
ManpowerGroup reported Q4 2023 revenues of $4.6 billion, a 4% decrease from the prior year. The company experienced a net loss of $1.73 per diluted share, compared to net earnings of $0.95 per diluted share in the prior year. Results were impacted by restructuring costs, non-cash charges, and a stronger U.S. dollar.
Revenues decreased by 4% as reported and 5% in constant currency, reaching $4.6 billion.
The company faced a challenging environment in North America and Europe, but experienced solid demand in LATAM and APME.
Gross profit margin was 17.5%, with staffing margins remaining resilient.
The quarter included a non-cash goodwill impairment charge of $55 million and restructuring charges of $90 million related to the wind down of the Germany Proservia business.
ManpowerGroup
ManpowerGroup
ManpowerGroup Revenue by Geographic Location
Revenue by Geographic Location
United States Revenue
CapyFin.comOther Americas Revenue
CapyFin.comFrance Revenue
CapyFin.comItaly Revenue
CapyFin.comOther Southern Europe Revenue
CapyFin.comNorthern Europe Revenue
CapyFin.comAPME Revenue
CapyFin.com Forward Guidance
ManpowerGroup anticipates diluted earnings per share in the first quarter to be between $0.88 and $0.98, which includes an estimated unfavorable currency impact of 2 cents and excludes unfavorable operating losses for the run-off of our Proservia business estimated at 14 cents. Our guidance excludes restructuring costs and any Argentina related impact of non-cash currency translation losses.
Revenue & Expenses
Visualization of income flow from segment revenue to net income